![]() ![]() It’s an insurance policy against disaster, but it doesn’t produce excellence. If you can’t count on anything else, then you impose rules and incentives. Rules and incentives are the booby prize. The point of our book is that you will never get what you need and want out of any institution that matters by relying on rules and incentives. If the financial system is broken, change the incentive structure so that bankers stop ripping off their clients. if schools don’t work, rigid curricula and scripts for teachers follow. You have to follow the rules or you’re out. If you make a lot of rules and you have somebody standing over people’s heads watching them to make sure that they actually obey the rules, then you don’t care what people’s motivation is. ![]() One that Ken and I focused on in writing Practical Wisdom is that we have come to the view as a society that when things are broken, the way to fix them is either by making more rules or by creating smart incentives…. There are probably many reasons, not one, for this distrust of institutions. Schwartz: I don’t want to be monomaniacal about this. Knowledge at Wharton: You note that there is a collective mistrust of the institutions that surround us. Knowledge at Wharton recently sat down with Schwartz to discuss why individuals fail to do the right thing, what practical wisdom looks like in practice and what organizations can do to regain people’s trust.Īn edited version of the transcript appears below. Instead, society needs the Aristotelian ideal that trumps all others - practical wisdom. Swarthmore professor Barry Schwartz says rules and incentives are an “insurance policy against disaster, but produce excellence.” In the recent book, Practical Wisdom: The Right Way to Do the Right Thing, Schwartz and co-author Kenneth Sharpe, also a Swarthmore professor, say what is needed is not more bureaucracy. Speak With Confidence: Four Fixes That Work April 11, 2023.It’s Not You - It’s Your Goals: Knowing When to Quit May 30, 2023. ![]() Generating Ideas: A Process for Breakthrough Innovation June 14, 2023.The Meeting Style That Generates Breakthrough Solutions August 7, 2023.Meet the Authors: Wharton’s Katy Milkman on How to Change May 14, 2021.Meet the Authors: Mauro Guillén on How Businesses Succeed in a Global Marketplace June 21, 2021.Meet the Authors: Wharton’s Peter Cappelli on The Future of the Office November 4, 2021.Meet the Authors: Erika James and Lynn Perry Wooten on The Prepared Leader October 3, 2022.How National Politics Are Impacting DEI in the Workplace February 7, 2023.Diversity at Work: Why Inclusive Storytelling Matters April 4, 2023.Improving Accessibility in the Workplace - and in Space May 16, 2023.How Employers Can Support Women’s Reproductive Rights June 20, 2023.Great Question: Kevin Werbach on Cryptocurrency and Fintech July 21, 2021.Great Question: Dean Erika James on Crisis Management August 16, 2021.Great Question: Wendy De La Rosa on Personal Finance October 15, 2021.Great Question: Witold Henisz on ESG Initiatives November 17, 2021.Making the Business Case for ESG May 3, 2022.How Companies and Capital Can Be Forces for Good June 21, 2022.Investing in Refugee Entrepreneurs in East Africa August 8, 2022.Why Employee-owned Companies Are Better at Building Worker Wealth November 11, 2022.Beyond Business: Humanizing ESG December 13, 2021.How Analytics Is Changing Finance November 29, 2022.How Data Analytics Can Help Deliver Social Good December 20, 2022.How Analytics Can Boost Competitiveness in Sports January 31, 2023. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |